Home Loan EMI Calculator

Plan your home purchase: enter the property price and your down payment to see the loan amount, monthly EMI, total interest and how affordable the EMI is against your income.

How this home loan calculator works

The loan amount is the property value minus your down payment. The EMI is then calculated on that amount using the standard reducing-balance formula used by Indian banks and housing finance companies. Enter your monthly take-home income to see what share of it the EMI will use.

Loan amount = Property value − Down payment EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1)

Example

Property value ₹75 lakh with a 20% down payment (₹15 lakh) leaves a loan of ₹60 lakh. At 8.5% for 20 years the EMI is about ₹52,069. Over the full tenure you would pay about ₹64.97 lakh in interest, more than the loan itself. That is why prepayments matter so much on home loans.

How much home loan can you get?

Lenders look at your FOIR (fixed obligations to income ratio), meaning all your EMIs as a share of net monthly income. Most cap it at about 40–60%, depending on income level. They also fund only up to a fixed loan-to-value share of the property. Under RBI norms this is up to 90% for loans up to ₹30 lakh, 80% for ₹30–75 lakh and 75% above ₹75 lakh. Stamp duty and registration are usually not funded.

Tax benefits on a home loan

Under the old tax regime, interest on a self-occupied home loan is deductible up to ₹2 lakh a year. Principal repayment also counts towards the ₹1.5 lakh limit for Section 80C-type deductions. The new tax regime does not allow these deductions for a self-occupied house. Use the Income Tax Calculator to compare both regimes.

Frequently asked questions

Is it better to choose a longer home loan tenure?

A longer tenure lowers the EMI and makes the loan easier to get, but you pay much more interest. A common approach is to take a comfortable tenure and make part-prepayments whenever you can. Most banks charge no prepayment penalty on floating-rate home loans taken by individuals.

What down payment do I need for a home loan?

At least 10–25% of the property value, depending on the loan size, plus stamp duty, registration and other charges, which banks usually do not fund.

Is the EMI fixed for the whole tenure?

For a fixed-rate loan, yes. Most Indian home loans are floating-rate and linked to the repo rate (EBLR), so when the rate changes the bank usually changes the tenure first and the EMI only if you ask or the tenure limit is reached.

Why is interest so high in the early years?

Interest is charged on the outstanding balance. At the start the balance is highest, so most of each EMI goes to interest. As the balance falls, a larger share goes to principal. The year-wise table shows this shift.

Results are estimates for information only and are not financial, tax or investment advice. Rates and rules change, so confirm figures with your bank, employer or a qualified professional before making decisions.